EU Carbon Border Adjustment Mechanism

The EU Carbon Border Adjustment Mechanism (CBAM, pronounced /ˈsiːbæm/) is a carbon tariff on carbon intensive products, such as steel, cement and some electricity, imported to the European Union. Legislated as part of the European Green Deal, it took effect in 2026, with reporting starting in 2023.

Source: Wikipedia — EU Carbon Border Adjustment Mechanism (CC BY-SA 4.0)